Trending Content - Investment Banking Forum
Career Resources
WSO Free Modeling Series - Now Open Through
June 30, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
Any idea on how many / offices? No surprise here. Rarely see them on deals anymore.
At least a few in the NY office.
analysts? like they just worked there for less than a year two years? Wow UBS.
Yes, that's generally what "Analyst" means.
To be fair, they could also be in research. Most people just look at the active posts. Wouldn't notice that it's in the ibank forum.
UBS SUCKS
Today's example: http://dealbreaker.com/2013/04/wiley-22-year-olds-force-morgan-stanleys…
Today's example: http://dealbreaker.com/2013/04/wiley-22-year-olds-force-morgan-stanleys…]
An older one, but my personal favorite: http://dealbreaker.com/2012/06/one-day-he-showed-up-in-bathing-trunks-a…-shirt-that-read-nasdaq-sucks/
“We’re from the SEC,” one of the suits said. “We’re looking for Sheldon Maschler.”
“Who the FUCK let you in!”
“The door was open.”
“If my fly was open, would you suck my dick?”
I remember hearing a classmate last year saying he took a UBS SA position over some other banks (can't remember which ones). When asked why he chose UBS, he said "they basically all do the same thing, so I just chose." I wonder how he is feeling about that right now...
Had another classmate of mine use the same rationale (combined with the old, "I was too lazy to actively pursue another bank")... he just recently was laid off.
UBS - U've Been Sacked
I can confirm that at least one of the IBD analysts in NYC was laid off. He found another job at a mid-BB pretty quickly though.
UBS investment bank might disappear next couple of years :))
UBS investment bank is a crumbling ship. Enough said.
There was an article today about how Singapore will overtake Switzerland in AUM by 2020
Man UBS sucks
how about its FX sales and Trading desks?
Link to the story on these recent layoffs?
http://www.wallstreetoasis.com/forums/more-analyst-layoffs-at-ubs
Proprietary news, man.
Even Josh Pearl from the main IB book was laid off or quit.
http://www.amazon.com/Joshua-Pearl/e/B002XGSW6I/ref=ntt_dp_epwbk_1
Isn't it a little early? I thought UBS exploited their analysts and let them go a few days before the bonus payment date.
Guess they decided that was a little inhumane. Better to lay them off in March.
What does their severance package look like? 3 months salary?
UBS Fixed Income Layoffs and Long Term Impact (Originally Posted: 11/02/2012)
Pretty extreme move. In case anyone's been under a rock this past week which would be entirely excusable if you're in one of the areas hit by hurricane sandy, UBS has decided to exit anywhere from 5-15 lines of business primarily in fixed income trading, and has swiftly begun the process of axing 10,000 or so employees. This follows 3,500 layoffs earlier in the year and an exodus of bankers and talent since 2009.
http://dealbreaker.com/2012/10/layoffs-watch-12-ubs-stops-cuts-for-no-h…
http://online.wsj.com/article/SB100014240529702048405045780849801597345…
I'm curious what people's reactions are... is this a long term trend as their Chairman keeps alluding to, how will UBS be impacted long term by deciding to focus on PWM...
Any advice for folks who've been laid off (junior people vs more senior VP level folks) would be appreciated, including for summers who've taken offers to start FT in 2013.
I was surprised. Was under the impression that FICC trading as a whole was doing well, albeit capital requirements for structured credit especially are daunting...
It's funny how a few years ago the rumors were that they were going to sell of their US PWM division. Hats off to Bob McCann - he's done a lot with very little to work with.
UBS has been foreshadowing this move for a while although no one expected a complete wind-down I think. I think it shows that at the very least FID S&T is in trouble until some new awesome product like CDOs or MBS gets found.
the positive to this is for ppl that work at the larger players in FICC (think DB, BAML, JPM, GS, Citi, Barcap) this means theres one less competitor to deal with (furthermore, if MS and CS potentially downsize their RWA's and exit businesses, that will mean even less competition for the big dealers (wider spreads)....
Where do you think these guys will go. Other BBs, regionals, buy-side?
what perplexes me is that ubs is cutting fixed income yet maintaining and in some cases growing equities.
They are cutting expensive businesses (Balance sheet, RWA etc) that they are not top players in, mainly credit and commodities. Equities they are quite good at
Talked to a sales MD at a regional today about this. He got laid off at a BB in 2009, and said it was the best thing that ever happened to him. He took all his clients to a regional and is now making more money, while working less hours. He is straight commission now as opposed to the base + bonus structure of a BB. If you have good experience and the right clients going to a regional might be a good move.
If you have the clients, eat-what-you-kill pay has much more upside
Are they laying off more FICC Sales employees or traders?
UBS Layoffs... inside scoop (Originally Posted: 11/17/2008)
Anyone know anything first hand?
http://dealbreaker.com/2008/11/layoffs-watch-08-ubs-1.php
any idea where within the IB these cuts will focus?
?
UBS Begins Layoffs (Originally Posted: 08/30/2011)
http://www.businessinsider.com/ubs-is-laying-off-a-bunch-of-people-in-i…
Anyone have more clarity?
They hired back way too fast. Sucks. Anyone know if this is all their offices, or just in the US?
interesting - i know a couple analysts there that have been working 50 hour weeks for the past 6 months
Timing of UBS layoffs (and other banks) (Originally Posted: 05/05/2008)
When UBS makes known tomorrow how many people they will layoff, then how long will it take for those peopel to get laid off?
:(
http://online.wsj.com/article/SB121004176527169739.html?mod=2_1569_left…
Announced today, started today...close friend got axed this morning.... just praying that they finish it all today...
IBD?
which group
did they say how many people total in each division they were laying off? Or are they just calling people up for a "quick chat" and no one knows yet?
damn....quick chats...
anyone else have more color on what's going on right now?
Yeah, any first hand news here? Anyone know if its all in fixed income like they said it may be or is anyone getting laid off in IBD coverage groups?
ZURICH (Reuters) - UBS (UBSN.VX: Quote, Profile, Research) axed 5,500 jobs and sold billions of dollars of ailing assets on Tuesday in a bid to break free from the subprime crisis, but its shares dropped as investors feared its earning power might be permanently stunted.
The Swiss bank said it would reduce its workforce by an additional 7 percent, with most of the cuts hitting U.S. and UK investment banking, as it sought to hack back the business lines that made it Europe's biggest casualty of the subprime crisis.
"In terms of large-scale reductions, I do not forsee anything (but) you will never have certainty that we are done," Finance Chief Marco Suter told Reuters. "In the investment bank, that's just the name of the game: hire and fire."
Anyone have more info on the complete exit in the Munis market? Potential buyers? UBS was fairly strong in public finance.
Across all sectors in IBD...layoffs staggered till end of the week. Teams affected today are GIG, M&A, TMT, Oil and Gas, Lev Fin, FIG...every team will be affected by the end. Layoffs primarily analysts and associates, one or two Directors and EDs here and there...
Dang......sorry to hear that. What proportion of people are getting hit? Is it just like one per team or is it much deeper than that?
This is fuckin' scary.
At least 2 per team..but random...few in FIG and loads in TMT and M&A...very random...my team has not been hit yet but expecting tomorrow or Thurs at latest...it's gonna be a long week...
good luck man.
When you say loads in TMT and M&A, what is the approximate number for each team? Appreciate your information. ~ WarrenB
I'm going to be a summer associate in one of the groups you mentioned that would be hit with the layoffs at UBS this summer. Does this basically mean I have no chance at getting a FT offer?
Bloomberg reported that about 26% of fixed income and 9% of investment banking and equities would be let go.
any word about the LA office?
No analysts yet in my group. Don't really expect any cuts at that level. Attrition between 2nd years leaving next month and a deferral program for incoming analysts should be enough to right size the analyst levels
Cuts have been pretty much across the board, although I haven't heard of any MD's being let go. At least two first year analysts were cut yesterday.
UBS Layoffs / Delayed Trainning? (Originally Posted: 04/13/2009)
I've heard rumors that UBS will be delay its IBD training until after labor day. Can anyone confirm?
Also, has anyone heard whether they will be giving out deferrals or rescinding first year offers this year?
http://www.reuters.com/article/companyNewsAndPR/idUSTHO23751620090412
The layoffs will mostly be in Switzerland and in BO/support/commercial banking functions. IB is safe* for the time being.
*According to a friend who works in their London office. But that is not to say that they won't sack an odd guy here and there, just that there won't be any large-scale bloodletting in IB.
Just my 2c.
I saw an internal message last week that a staffer showed me saying that our incoming associates would not be starting until after labor day. It was not official but it seems like it will happen.
There wasn't any hint of rescinding offers although when I asked some guys I know who are starting full time in this incoming class they said that a rumor about rescinded offers is circulating and it is not off of the table.
one more thing... honestly i think its way too late in the game for rescinding offers... especially since they have paid out sign on bonuses already.
IBnutz - the cost of a signing bonus compared to total compensation analysts receive is probably 10-15% at most. Paying the relocation bonus does not indicate that offers are still good.
A friend who spoke with H.R. said they couldn't tell him anything and another friend said training was delayed to post Labor Day.
i'm talking about associates... i dont know anything about analysts classes.
maybe the same logic applies... but then again, what does delaying the start date a few weeks save them in the long run when they have lost billions already?
My friend who is working in S&T for UBS this summer just found out his internship is now 8 weeks instead of 10...
I wouldn't be surprised if your start date is moved back along this same pattern.
Start date will be delayed until September; they're not planning on rescinding any offers.
Why do you think they're delaying the start date? They're trying to see if the market picks up and whether they're actually going to need all the people that they hired. If the market doesn't pick up, I don't see why they wouldn't rescind.
they're delaying start dates for two main reasons. first, they're going to shorten the length of training in NYC from 7 weeks to most likely 4 weeks, and still get everyone back to the offices in october as originally planned. second, they're starting analysts and associates at the same time this year unlike the past. associates were supposed to start august 17th, so they're only getting pushed back a couple weeks or so. i don't think the market is going to change dramatically enough in a two week window to change hiring needs (ie. rescind offers)
are we talking about the start date for training starts in sept or the start date of actual work after training starts in sept?
i originally thought that training started in july and actual work starts in august
where are you guys getting this information from?
i just want to know where you're getting the confidence to say they aren't going to rescind any offers. i have heard the same things about the delays of the start dates so that makes sense (and I have heard it from internal sources at UBS).
however, no one will confirm anything either way about rescinding or not rescinding offers.
Do you really think any bank is going to openly admit they are considering rescinding offers?
My sources said that "they're not planning" on rescinding offers if you knew how to read.
I don't see how I'm being so over confident in relating that information to you verbatim. I could understand the overconfidence bit if I were to say, "They will not rescind any offers." You should understand the language before you start accusing people.
Of course they're going to say that. BSC and JPM said the same thing, until about a week later when they decided to change their minds...
BSC and UBS are a little bit different in case you couldn't figure it out.
Thanks for pointing out the obvious; that's why they use words like "planning" rather than more concrete statements.
Take any posts on this site for whatever you think it's worth; I'd say close to nothing.
Marcel Rohner told me personally that they will not cut first year analyst positions.
Wx - The fact you interpret the word "planning" into "positively absolutely" proves you are an ignoramus. Go back to your S&T floor; we'll worry about the IBD.
Wow, it's called sarcasm and it wasn't directed at you anyway you moron. I actually understood exactly what you meant, it's Wing that seemed to read into it before...which you yourself pointed out in an earlier post...so not really sure how this was justified. What do I know though, I'm just an ignoramus (word of the day on your calendar I'll take it).
lol, was the whole S&T/IBD thing supposed to hurt? If you had half a brain you'd know that what affects one to some degree affects the other. Highly doubt they will push back 1 set of training and not the other but again, what do I know.
You're right about one thing though, soon I will go back to my S&T floor...and soon you will go back to your classes...because you're still in school right now, correct? Haven't even started FT yet and already a big mouth.
On a random aside, Rohner is the only white man I know that get a worse Asian glow from drinking than actual Asians do.
Possimus esse et deserunt molestiae suscipit natus labore. Corporis sapiente nihil at. Optio autem sunt qui laboriosam omnis laboriosam impedit ut. Excepturi ad iusto suscipit ipsa minima ut. Nam aut consequatur rem qui officia sunt. Ut necessitatibus suscipit officiis similique ipsum. Amet labore harum saepe. Et ab et recusandae voluptatem ut ex atque.
Assumenda ipsam dicta sint voluptas sed repudiandae. Est numquam asperiores et sunt non dolorum. Rerum exercitationem suscipit quis id reprehenderit maxime delectus nulla.
Quod voluptatem et pariatur sed dolorem ratione. At est dolorem recusandae eligendi. Et nesciunt expedita consectetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Itaque quia quis ut quia id et molestias esse. Reiciendis quasi molestiae facere debitis et dicta rerum aperiam. Minus numquam autem ipsum ea libero harum. Odio eum suscipit qui alias aut doloremque nobis architecto. Nisi quisquam amet voluptas recusandae voluptatem impedit. Numquam sunt perferendis est molestias.
Qui eius et provident nihil. Aut odit et recusandae voluptatum quia. Vel eos porro dolorum voluptas.
Neque ipsa consequuntur ex eaque alias. Sed illum voluptate fugit repellendus mollitia. Ex esse exercitationem ut dolore et. Ut quaerat soluta saepe distinctio ut.
Sed quibusdam aspernatur vel et. Vitae cupiditate sunt harum est vel error et. Provident et exercitationem ut.
Aspernatur architecto reprehenderit et et. Voluptates repudiandae voluptates eligendi corrupti. Magnam tenetur facilis recusandae expedita consequatur quo commodi. Expedita alias minus ut totam sit quia iusto.
Sapiente reprehenderit corrupti totam maiores quae iste maxime. Corrupti enim quae mollitia velit rem illo impedit. Distinctio eum pariatur a laborum nam est. Id consequatur molestias magnam impedit quidem sunt. Ut excepturi rerum nemo consequatur molestias.
Impedit rerum nulla placeat saepe eius. Magnam dolores et quidem error quis distinctio placeat. Voluptas inventore quo ut consequatur est accusantium non. Voluptatem animi autem ex inventore ratione quam enim ad. Amet sit qui laboriosam laboriosam magnam in.
Distinctio porro aut quos qui itaque ea accusamus et. Neque ducimus ut qui blanditiis qui nihil eos. Suscipit saepe est ut non voluptatem. Dolorum ipsum voluptatem nemo quis.
Dolorum tempore quos eius. Corrupti qui in rerum aperiam.